For Each of the Following, Identify in Column 1 the Category

question 2

Essay

For each of the following, identify in column 1 the category to which the account belongs, in column 2 the normal balance for the account, in column 3 the financial statement that the account in which the account balance is reported, and in column 4 the account's nature (permanent/temporary).
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Differentiate between cash and cash equivalents.

Comprehend the gross method of recording purchases.

Master the internal controls applicable to cash management and its related banking activities.

Perform bank reconciliations and related accounting adjustments.

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Definitions:

Gold Rush

A rapid movement of people to an area where gold has been discovered, with significant historical occurrences in the United States, Australia, and South Africa.

Prospectors

Individuals who search for mineral deposits, particularly gold and silver, often during historical gold rushes.

California

A state located on the west coast of the United States, known for its diverse geography, significant economic contributions, and cultural influence.

Catholic Immigrants

Individuals who migrate from one country to another and identify with the Catholic faith, often contributing to the religious diversity of their new country.